Home / Knowledge / News / Textiles / Lakshmi Machine Works feels heat of slowdown

Lakshmi Machine Works feels heat of slowdown

12
Jun '09
Lakshmi Machine Works Ltd, the Coimbatore based well known manufacturer of textile machinery has reported a dip in net sales as well as a substantial dip in net profits for the fiscal year as well fourth quarter ending in March 2009.

For the fiscal that ended in March 2009, sales slipped to Rs 13.38 billion and net profits fell to Rs 1.06 billion from Rs 22.05 billion in net sales and Rs 2.42 billion in net profits recorded in the previous fiscal ending March 2008.

In the fourth quarter of the fiscal in consideration, net sales declined to Rs 1.80 billion and net profits Rs 80.4 million when corresponded with Rs 6.03 billion and Rs 6 billion respectively registered in the quarter ending March 2008.

The fall in sales and net profits, more so in the fourth quarter of the fiscal ended March 2009, is a direct fall out of the slowdown in the textile industry due to which new investments in machinery and equipment was put on the back burner.

Fibre2fashion News Desk - India


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 17th Aug 2019

EBA benefit withdrawal to hurt 4 mn Cambodians: GMAC

The Garment Manufacturers Association in Cambodia recently said the...

Pic: Infinited Fiber

Textiles | On 17th Aug 2019

Infinited Fiber receives lead investment from RGE

Singapore-based RGE Pte Ltd has joined a group of investors including ...

Pic: Macy's

Apparel/Garments | On 17th Aug 2019

Macy's net sales down to $5,546 mn in Q2 of 2019

Macy's Inc reported net sales of $5,546 million in Q2 of 2019 ending...

Interviews View All

Top executives, Textile industry

Top executives
Textile industry

The foremost issue is bridging the skill gap

Priyanka, Studio Priyanka Rajiv

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Textile industry, Head honchos

Textile industry
Head honchos

It is a well-calibrated budget

Sham Shah,

Sham Shah

Shamal and Shamal Pvt Ltd is into manufacturing and sales of textile...

Mark Tokuhara,

Mark Tokuhara

Japan-based FitJoy, a shoe brand for women, has been in the footwear...

C Dhandayuthapani,

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Kai Poehler, Voith Paper GmbH & Co. KG

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Prof Seokheun (Sean) Choi, Binghamton University, State University of New York (SUNY)

Prof Seokheun (Sean) Choi
Binghamton University, State University of New York (SUNY)

A team of researchers from the State University of New York (SUNY),...

Giulio Cesareo, Directa Plus SpA

Giulio Cesareo
Directa Plus SpA

Established in 2005, Direct Plus SpA, is one of the largest producers and...

Tony Ward, Tony Ward

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Sneha Arora, Label Sneha Arora

Sneha Arora
Label Sneha Arora

Sneha Arora, an alumnus of National Institute of Fashion Technology,...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


August 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search